Interpretation

In this Act, unless the context otherwise requires“annuity” means an entitlement to receive, from a source outside of Belize, a periodic payment of at least two thousand dollars per month, in approved foreign currency; “approved foreign currency” means a dollar as herein defined, and includes a unit of the currency of the United Kingdom of Great Britain and Northern Ireland, and such other currency as the Minister may from time to time declare to be an approved foreign currency by Order published in the Gazette; “approved means of transportation” means the means of transportation set out in Schedule I; “dependent” means a retired person’s spouse or his children below the age of eighteen years; “dollar” means a unit of the currency of the United States of America, and the sign “$” shall be construed accordingly; “financial institution” means any bank, building society, credit union or other company licensed to engage in the business of dealing with financial and monetary transactions, but does not include an international bank; 5 “international bank” means any bank licensed under the International Banking Act; “Minister” means the Minister for the time being responsible for Tourism; “pension” has the same meaning as “annuity”; and “Retired Person” means a person who is at least forty-five years of age.